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Waterloo EDC Blog

A multi-billion dollar development boom in Waterloo, Canada

Posted by Waterloo EDC on March 11, 2019

Downtown Kitchener with Cranes


A new article from the Waterloo Record reports that the downtown Kitchener area is currently experiencing a massive boom. In just a few short years, 18 projects worth almost $1 billion will more than double the core’s population and radically transform the community’s skyline.

"In my time with the city, I've never seen a building boom like this," said Mike Seiling, Kitchener's chief building official, who has been with the building department for 27 years.

The new developments include six 20+ story towers, with the tallest coming in at 39 stories. In addition to residential space, the developments also include three new office towers offering 387,000 square feet of office space.

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What’s driving this surge in new construction?

The activity is largely a response to the substantial city investment in projects like the central library, downtown university campuses and Communitech. Alongside these investments, major companies such as Google, Deloitte, Vidyard, North and D2L have chosen to locate in – or near – the core.

The regional government’s investment in a new light rail system – set to launch in Spring 2019 – has also helped spur new growth throughout the Kitchener and Waterloo communities. Tom Galloway, a Regional Councillor and Chair of the Region's Planning and Works Committee, has noted that between the region's three urban cores - Kitchener, Waterloo and Cambridge - total planned development is more than $2 billion.

“It's an exciting time," said Kitchener Mayor Berry Vrbanovic. "This is the kind of growth that many cities would very much hope to see."

Read the full Waterloo Record story – complete with interactive map of the new developments – here

 

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